Hong Kong Set to Add 10-20 Firms, Including Drug Makers, Chip Business

Ten to 20 more companies are set to establish or expand operations in Hong Kong, including leading drug makers and a semiconductor business, the head of the Office for Attracting Strategic Enterprises said. The remarks gave a preview of the government’s announcement of its next batch of firms setting up in the city.

Mainland and overseas firms

The companies will include a roughly equal number of mainland Chinese and overseas firms, according to the head of the government investment office. Yan said the group included several industry leaders with substantial market valuations.

He expected the roughly equal split between mainland Chinese and overseas firms to continue, while making clear that maintaining the ratio was not an explicit recruitment target. The expected additions would further broaden the presence of major companies in Hong Kong across pharmaceuticals and semiconductors.

Five of the world’s 10 largest pharmaceutical companies have already established a presence in Hong Kong, highlighting the city’s existing links with leading drug makers. The upcoming announcement is expected to cover companies establishing or expanding operations in the city.

Source: South China Morning Post